EMI Calculator
Calculate your monthly loan EMI, interest, and total payment.
Calculator results are estimates for informational purposes only and should not be considered financial advice. Actual results may vary depending on lender terms, taxes, fees, rates, and other conditions.
What is the EMI Calculator?
An EMI calculator estimates the fixed monthly payment for a loan. Enter the loan amount, interest rate, and tenure to see your monthly EMI, the total interest you'll pay, and the total repayment — plus a year-by-year breakdown of how principal and interest change over time.
Formula & how it works
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)- P
- = principal (loan amount)
- r
- = monthly interest rate (annual ÷ 12 ÷ 100)
- n
- = number of monthly instalments
When the interest rate is 0%, EMI is simply the principal divided by the number of months.
Example
A ₹10,00,000 loan at 8.5% for 20 years (240 months).
Inputs
- Loan amount
- ₹10,00,000
- Interest rate
- 8.5%
- Tenure
- 20 years
Results
- Monthly EMI
- ₹8,678
- Total interest
- ₹10,82,760
With a monthly rate of 0.7083%, the EMI works out to about ₹8,678, repaying roughly ₹20.8 lakh in total over 240 months.
How to use this calculator
- 1Enter the loan amount.
- 2Enter the annual interest rate.
- 3Set the tenure in years or months.
- 4Review your EMI, total interest, and year-by-year breakdown.
Frequently asked questions
What is EMI?+
EMI (Equated Monthly Installment) is the fixed amount you pay each month to repay a loan, covering both principal and interest.
How is EMI calculated?+
EMI uses the loan amount, monthly interest rate, and number of months in a standard reducing-balance formula so each payment is equal.
Does a longer tenure reduce my EMI?+
Yes, a longer tenure lowers the monthly EMI but increases the total interest you pay over the life of the loan.